Zeewolde, Netherlands (AHN) – An investment from a Chinese firm that would have provided a lifeline to Saab has collapsed, prolonging a production halt and leaving the future of the ailing Swedish automaker uncertain.

The company’s Dutch owner, Spyker Cars, said Thursday that an agreement with Hawtai Motor Group had been terminated because the Beijing-based automaker was unable to secure the approval of shareholders. It is continuing its search for funding and “negotiating equity and debt financing and/or technology licensing with various (strategic) Chinese partners.”

Spyker said it is in discussions with Hawtai on a non-exclusive partnership in the areas of manufacturing, technology and distribution in China.

The little-known Chinese company said in a statement, “The current situation is complex and it was not possible to reach agreed documentation in the timeframe contemplated by the agreement. Hawtai remains in discussions with Spyker to reach an agreement which is mutually beneficial to all parties.”

Hawtai was planning to invest 120 million euros ($222 million) for a 30 percent equity stake in Spyker. It also sought to provide 30 million euros under a convertible loan agreement with an annual interest rate of 7 percent and a six-month maturity.

The funds would have allowed Spyker to resume production at its factory in Sweden, where assembly lines stopped last month after suppliers halted deliveries due to unpaid bills.

Spyker, which bought Saab from General Motors last year, said it plans to restart production after it has secured funding from other sources. But it qualified this assurance by saying resumption would “depend on the outcome of discussions with its suppliers on terms to resume supplies of materials.”

Spyker is still working to sell Saab property in Sweden, a transaction that must meet requirements set by the European Investment Bank and the Swedish National Debt Office.

Russian banker Vladimir Antonov, a former Spyker chairman who acquired the automaker’s luxury brand unit in February, is said to have asked for Swedish authorities approval to buy Saab real estate in Trollhattan.

The automaker has also entered into a 30 million euro convertible loan agreement with Bahamas-based Gemini Investment Fund Limited. It is continuing discussions with the European Investment Bank on a 29.1 million euro drawdown request.

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Trollhattan, Sweden (AHN) – Saab owner Spyker Cars on Tuesday announced that it had secured an investment from a little known Chinese company, allowing it to resume production at its Saab plant.

The Dutch automaker will receive euros 120 million ($222 million) from the Hawtai Motor Group in return for a 30 percent equity stake in

Spyker. It will also get euros 30 million under a convertible loan agreement with an annual interest rate of 7 percent and a six month maturity.

The transaction, which still needs the approval of the Chinese and European regulators, adds to the other short-term funding Spyker obtained from other sources. The automaker entered into another euros 30 million convertible loan agreement with Bahamas-based Gemini Investment Fund Limited. It plans to make a euros 29.1 million drawdown request to the European Investment Bank.

Spyker is still working to sell Saab property in Sweden, a transaction that must meet requirements set by the European Investment Bank and the Swedish National Debt Office.

The loans and medium-term financing from Hawtai will let Spyker restart production at its factory in Sweden, where assembly lines were stopped last month after suppliers stopped deliveries due to unpaid bills. In addition, the investment from Beijing-based Hawtai gives Spyker access to the Chinese market.

“We expect that Saab’s unique brand values based on its aviation heritage, Scandinavian origins and innovation-driven character will do very well in the Chinese market,” Victor Muller, chief executive of Spyker and chair of Saab, said in a statement.

Saab Automobile was a unit of Swedish aircraft maker Saab before it was owned by General Motors, which sold the brand to Spyker last year.

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The best way for availing lower interest rate on cheap used car finance is to offer the lender some security of the loan. The security may be any valuable asset of the borrower. Apart from the security, if the borrower has a good record of paying previous loans, his chances of getting cheap used car finance increase. So check your credit score first. An amount approved as cheap used car finance will depend on equity in the property placed as collateral. Your current repaying capacity also plays a role in determining the loan amount. Since you are buying a used car, lender will approve cheap used car finance for short repayment duration of few years. You can avail cheap used car finance without collateral but in that case the interest rate will be comparatively lower only when your credit score is excellent.

Sourcing part of cheap used car finance is important. Though you can get finance for used car from car dealers but they usually charge higher interest. It would be better therefore to go for a personal loan specifically meant for car buying. Such used car finance comes at cheaper rate of interest. You can contact cheap used car finance providers on their websites. Compare their individual interest rates for picking up a suitable lender offering cheaper rates.

After getting the finance, while buying used car make sure that the car has no mechanical defects and so hire a mechanic for ensuring the quality. Pay off the loan in time for escaping any debt and this way your credit score also will move higher.

Ben Gannon is a senior financial analyst at Cheap Finance UK with an acumen for business and loans. In recent years he has taken up to provide independent financial advice through his informative articles. His articles are widely read because of the lucid manner of writing and thoroughly researched data. To find Finance UK, personal finance, cheap used car finance, personal finance UK, business finance, small business finance, small business finance UK that best suits your need visit http://www.cheapfinanceuk.co.uk

Author: Ben Gannon
Article Source: EzineArticles.com
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With bad credit loans you can borrow loan amounts of the likes of £5000-£75,000. Repayment term will vary from 5-25 years. Both secured and unsecured options are available for bad credit loans. Unsecured bad credit loans will require no collateral and will suit if you want to borrow smaller amounts. For larger amounts secured bad credit loans are appropriate and would require collateral like home, real estate or car etc.

Start with your credit report and credit score – that will give you a clear idea about how ‘bad’ your bad credit is. Credit score has statistical information which can be used by loan lenders to assess the risk accompanied while lending you money. Different credit score structures are used by loan lenders – however the most common is fico credit score. Fico score ranges from 300-900. Anything below 620 will mean you have bad credit score and will qualify for such loans only.

Bankruptcy, arrears, late payments, CCJs, defaults, foreclosure and any court case are seen as bad credit cases. None of these things on your credit report can prevent you from having bad credit loans, unless you have pretty bad credit condition like multiple bankruptcies. In worst case scenario there will fewer lender ready to take this sort of risk.

Bad credit loans differ only with respect to interest rates. If you have bad credit then interest rates will be high. However, you may not qualify for high interest rates if you care take care of other aspects of bad credit loans. It is true that bad credit score is important while deciding on interest rates but they are not the ‘only’ deciding factors. Collateral, equity, income, current debts, recent credit history – these should be your strong points.

It depends on lender to lender about the risk they are ready to take with you. These lenders are usually referred to as “high risk lenders”. Terms will vary with lenders and you will have to check how strict or relaxed they are with bad credit loans. Documentation required with bad credit loans will include income tax returns, bank statements, estimate of property and title of the property (in case loan is secured), documents to see that there are no legal disputes relating to collateral. Requirements for documents can also increase or decrease with different lenders.

Banks, financial institutions, private lenders have options for those looking for bad credit loans. Online option is by far the one that has the most extensive range of lenders offering bad credit loans. Go to lender, ask for quote, compare loans and then decide on which loan to settle on. Look for hidden fee and ask questions if you are not sure. Proceed if you are satisfied.

Bad Credit Loans are meant for every loan lending purpose. There are bad credit loans for wedding, home improvement, debt consolidation etc. Bad credit loans usually are not much concerned about the purpose. Try to take Bad credit loans for smaller amounts, This way it will be easier for borrowers to repay bad credit loans in due time. Make sure you can repay bad credit loans for you do not want more negative information on your credit report.

Bad credit loans can be a starting point to building up good credit. Regaining good credit takes time. With a respectable performance with bad credit loans you can help build credit.

Finding Bad credit loans is not a mathematical algorithm that you need some special skills to find them. Nor they are on sale that you will find them easily. But loans for bad credit are possible – which means you are getting the ideal loan for your not so ideal credit situation. You can hardly miss such convenient assortment of circumstance.

Amanda Thompson holds a Bachelors degree in Commerce from CPIT and has completed her masters in Business Administration from IGNOU. She is as cautious about her finances as any person reading this is. She is working as financial consultant for chanceforloans .To find a Personal loans,bad credit loans,Debt consolidation,home equity loans at cheap rates that best suits your needs visit http://www.chanceforloans.co.uk

Author: Amanda Thompson
Article Source: EzineArticles.com
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Abu Dhabi, United Arab Emirates David Rosenberg – Less than a year after Dubai World holding company shocked global investors by asking to delay repayment of its debt, money from abroad is flowing back to the Middle East.

But the region still has a long way to go before it returns to the boom years that spawned real estate projects constructed on palm-shaped islands and Abu Dhabi’s $22 billion zero-carbon city.

Governments and companies around the Arab Middle East are raising cash in the debt and equity markets as economic growth returns, oil prices climb and Dubai moves forward in settling its debt woes. The Arab Investment & Export Credit Guarantee Corp. predicts that foreign direct investment (FDI) will grow 12 percent this year to $88.8 billion from a depressed 2009.

But foreign investment remains below its pre-crisis levels and much of the capital reaching the region is cash held abroad by Gulf governments that is being repatriated to fund local development projects, Simon Kitchen, strategist for EFG-Hermes in Cairo, told The Media Line.

“In the Gulf, you have governments with big foreign financial assets, which they have been selling to invest in real assets in their own economies. Strictly speaking, that’s not foreign investment, but it contributes to the figures,” Kitchen said. “Still, we’ve seen a recovery in Egypt and other countries of the region.”

Foreign investment is crucial for the Middle East, which needs to stoke economic growth to create jobs for a burgeoning population. Oil-poor countries, such as Egypt and Morocco, don’t have the capital to build homes, factories and infrastructure, while richer ones need know-how from overseas, which usually comes in the form of joint ventures involving infusions of cash and technology by the foreign partner.

The Middle East wasn’t as badly shaken by the global financial crisis as Europe and the United States. But Dubai’s debt woes not only underscored the emirate’s dangerous degree of leveraging but also the absence of financial transparency throughout the region. FDI dropped 18 percent in 2009, with the United Arab Emirates (UAE), to which Dubai belongs, plunging 77 percent.

The International Monetary Fund forecasts a 4.2 percent increase in gross domestic product this year for the region stretching from Morocco to Pakistan, a figure slightly below the pace for emerging markets around the world but almost double the 2009 level. The price of oil, which drives the key economies of the Gulf, hovered between $70 and $80 most of this year before breaking out higher last month. On Thursday, Brent crude was trading at a six-month high of $87.40 a barrel.

Meanwhile, some measure of investor confidence has returned to the region. Dubai World said Oct. 27 it reached terms with the last of its creditors to convert some of its $23 billion debt to equity. On Nov. 2, Moody’s upgraded the debt outlook for Dubai-based DP World, one of the world’s biggest port operators, to “positive,” citing the company’s debt reduction plans. In September, Dubai itself returned to the debt markets for the first time since the Dubai World crisis, selling $1.25 billion in bonds.

On Wednesday, the UAE telecoms group Etisalat, the Gulf’s No. 2 telecoms group, set terms to buy a stake in Kuwait’s Zain in a $12 billion deal. Zain is the Gulf Arab region’s third-biggest telecoms firm. In the third quarter, mergers and acquisitions activity in the Middle East reached a record $15 billion, according to Thomson Reuters.

Still, not all is rosy. Foreign direct investment remains well below pre-crisis levels, and other investment flows are negative, particularly for the UAE and Kuwait, the Washington-based Institute for International Finance said in an Oct. 27 report.

Meanwhile, financial investors still worry about debt troubles at the network of state-affiliated companies known as Dubai Inc. Not long after Dubai World came to terms with its creditors, Dubai Holding requested another delay in repaying a $555 million loan. All told, Dubai’s government and its companies are sitting on about $100 billion in debt.

“The fundamental issues are not yet resolved, like real estate and the banking sector, which are still a drag on the economy and a disincentive for people to invest. We’ll get through these issues and, when we do, people will start to invest,” Paul Cooper, managing director of Sarasin-Alpen & Partners, told The Media Line.

Low interest rates and excess liquidity in the developed world have lured foreign investors into higher-paying but riskier investments such as Dubai bonds, said Kitchen of EFG-Hermes. But the region still suffers from problems such as poor corporate governance and low levels of transparency that gives investors cold feet, analysts said.

Investors are also deterred by the fact that the Gulf’s markets aren’t represented in the leading global benchmark indexes, such as MSCI’s, which are used by institutional investors to allocate their portfolios, said Cooper. Standard & Poor’s recently added UAE stocks to its secondary emerging markets index, but the big break won’t come until MSCI does the same, he said. Qatar, Kuwait and UAE have all taken steps in that direction, he added.

“It’s probably premature to say there is a real recovery,” said Cooper. There may be one on the way, but “that’s a story for 2011.”

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First, that you actually have a good home equity value. This means that the amount of your unpaid mortgage is considerably smaller than the amount of your house fair market value. In fact, this is how your home’s equity is actually computed. You deduct your unpaid mortgage from the fair market value of your property. You end up with your equity. If the amount is big, your equity is big; and so, your chances of securing bigger home equity loan with low interest rate are also great. This applies regardless of the amount of your credit score.

Second, that you have a good credit score and credit history. Your credit score may not have a huge bearing on your loan if you have a high equity value, but it can affect your loan. A poor credit score just screams, “I am not a good borrower!” This automatically puts the lender on guard against giving you a loan. So, you are at risk of getting a higher interest rate or a lower amount of loan. However, there are a lot of lenders who are willing to extend home equity loans with bad credit.

How to Get Home Equity Loans with a Bad Credit

Your options are considerably limited if compared to the options available to people with good credit. However, there are options available so you have to make the most out of what you have. First off, you need to redirect your attention from the traditional lenders to lenders who are willing to take risks on people with bad credit. You are what lenders would call a high credit risk. Most local banks, financing institutions and mortgage companies would disapprove your loan application after they know of your credit score. If they would not automatically disapprove your application, you will be saddled with a high interest rate and charges.

Your best bet for home equity loans with bad credit are subprime lenders. Fortunately, these lenders actually specialize on giving loans to high credit risk individuals. No, having a bad credit does not mean that you cannot apply for a home equity loan. You have great chances of getting a good deal as long as your home equity is considerably big.

Preparing for Home Equity Loans with Bad Credit

Lenders want to extend loans. In fact, there are lenders who are willing to close their eye on your credit score or skid the credit score to give you a loan. Before you actually place your finances at the mercy of lenders, make sure that you have all the necessary documents to help you get a loan. First, you need to prepare your credit report. Fortunately, if the source of a bad credit score is forgivable, lenders are willing to overlook these scores. Again, this depends on the reason for your poor credit score. You also need to prepare your proof of income. This is very important especially if you are applying for home equity loans with bad credit. Make sure that you supply your lender with all these documents and other necessary documents needed to secure your loan. Perhaps, you might convince him enough to give you a low rate home equity loan regardless of your credit score.

Author: Tony Newton
Article Source: EzineArticles.com
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